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_aSHARMA, RENUKA: MEHTA, KIRAN _920140 |
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_aSIZE EFFECT AND SEASONALITY IN SIZE-SORTED PORTFOLIOS: EVIDENCES FROM INDIA _cSHARMA, RENUKA |
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_aJAIPUR _bDR. PRAVEEN JAIN - RESEARCH DEVELOPMENT ASSOCIATION _cSEPTEMBER 2015 |
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300 | _a3-36 | ||
500 | _aTHE SIZE OR MARKET CAP OF A COMPANY IS A REFLECTION OF ITS BUSINESS ACTIVITIES. THE STYLE MANAGERS HAVE ARGUED THAT IT IS NOT MANDATORY TO INVEST IN A LARGE CAP STOCK. A STYLE BASED ON MID-CAP OR SMALL-CAP CAN ALSO RESULT IN ABNORMAL RETURNS. ONCE A PORTFOLIO STRATEGY IS DRAWN, THE NEXT FOCUS OF A PORTFOLIO MANAGER IS TO IDENTIFY IF ANY SPECIFIC TIME IN A CALENDAR YEAR EXISTS WHICH MAY RESULT IN SIGNIFICANT ABNORMAL RETURNS. THE OBJECTIVE OF PRESENT STUDY IS TO EXAMINE THE SIZE EFFECT, I.E., SIZE OF THE STOCK AFFECT THE RETURN PERFORMANCE OF THE SIZE-SORTED PORTFOLIO OR NOT. IN ADDITION TO THIS, THE SEASONAL PERFORMANCE OF THE PORTFOLIOS HAS ALSO BEEN EXAMINED TO STUDY MONTH OF THE YEAR AMOMALY. THE PRESENT STUDY HAS TAKEN A TIME PERIOD OF AROUND 20 YEARS, I.E., MARCH 1995 TO MARCH 2015. THE FINDINGS OF THE PRESENT STUDY HAVE GIVEN VARIOUS CUES FOR SIZE EFFECT AND SEASONALITY IN SIZE-SORTED PORTFOLIOS. FOR A LONGER-TERM INVESTMENT, ALL SIZE-SORTED PORTFOLIOS PERFORM SIGNIFICANTLY. THEREFORE INVESTORS CAN INVEST IN ANY TYPES OF SIZE-SORTED PORTFOLIO DEPENDING UPON THEIR INCOME LEVEL. | ||
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_aEQUITY PORTFOLIOS, INDIAN STOCK MARKET, SIZE EFFECT, SEASONALITY _920141 |
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_2ddc _cJA-ARTICLE |
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_029506 _955702 _a _b _d _o5555125 _tJOURNAL OF ACCOUNTING AND FINANCE _w _x _z |
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_c40904 _d40904 |